News

**LoP Guest** lop guest User ID: 110356 07-24-2012 12:08 AM

"Since the end of 2008, the island’s banks have forgiven loans equivalent to 13 percent of gross domestic product, easing the debt burdens of more than a quarter of the population."

Y'all can b*tch about socialist/welfare/blahblah blah all you want, but this is what our country needs to do to get people back on their feet and let us recover from predatory lending, usury and rampant inflation. Houses should cost 1/10th or less of what they currently cost. You should buy a home to live in, not live to work to buy a home.

Paying 100% - 150% interest over the life of a mortgage is criminal.

http://www.disinfo.com/2012/07/iceland-j...-strongly/

**Luvapottamus**

They scrapped some illegitimate debt.

Which is what we need to do(toss all illegitimate debt) among other things.

They didn't erase all debt.

**LoP Guest** lop guest User ID: 110356 07-24-2012 12:15 AM

Luvapottamus Wrote:

They scrapped some illegitimate debt.

Which is what we need to do(toss all illegitimate debt) among other things.

They didn't erase all debt.

I would say that 50 page legalese ARM mortgages changed at the last minutes before signing with acceleration clauses, prepayment penalties and 20% interest rates are indeed illegitimate.

**LoP Guest** lop guest User ID: 65558 07-24-2012 12:19 AM

Pipi Longstockings must be quite happy :-)

Why would any right thinking person not want this

http://www.youtube.com/watch?v=vVXbgRokF9U

http://www.youtube.com/watch?v=rCwWhz3WD...4308E2D5B5

**LoP Guest** lop guest User ID: 65558 07-24-2012 12:27 AM

It would be nice, especially if you had just financed a new Mercedes S600, or even a smaller one.

No more payments :-)

**Luvapottamus**

LoP Guest Wrote:

Luvapottamus Wrote:
They scrapped some illegitimate debt.

Which is what we need to do(toss all illegitimate debt) among other things.

They didn't erase all debt.

I would say that 50 page legalese ARM mortgages changed at the last minutes before signing with acceleration clauses, prepayment penalties and 20% interest rates are indeed illegitimate.

Me too.

This topic has been up before, and at first it looked like they wiped a lot more debt than they did, but after some discussion it appeared like they eliminated some of the bigger swindles that happened towards the end of the bubble.

But I'm not picking a fight with you, I think they should go further, and so should we.

Like you implied, our housing policies should be geared for AQUIRING HOUSING, not milking home buyers.

**Luvapottamus**

Stole this from one of BloodRed's posts.

http://www.youtube.com/watch?v=YwE37bweKWs

Now we're talking!

Eh OP?

chuckle

Let's do THAT!

Jhikpghf

**LoP Guest** lop guest User ID: 107825 07-24-2012 01:35 AM

they should either wipe all student loans or at least wipe off the interest on them. people borrow $20,000 and then can't get a job that is more than minimum wage and 10 years later that $20,000 becomes $100,000. it's nuts.

i think student loans should only be the original principle borrowed or principle and a one time 4% interest charge not 15% compounded over and over and over and over.

half the damn country is poor or low-income. there are just not many decent paying jobs anymore.

something's gotta give.

**Shakey1**

Birgitta Jonsdottir - Financial & Political Update from Iceland
July 22, 2012
Birgitta Jonsdottir is a member of the Althing, the Icelandic parliament. Her district is the Reykjavík South Constituency. She was elected to the Icelandic parliament in April 2009 on behalf of a movement aiming for democratic reform beyond party politics of left and right, called "The Movement." Birgitta is a poet and has been an activist and a spokesperson for various groups, such as Wikileaks and Saving Iceland. She also acts as a spokeswoman for the Icelandic Modern Media Initiative. She returns to discuss the misconceptions surrounding the alleged debt forgiveness in Iceland. We'll address truth vs. rumor regarding the economy and democracy in Iceland. Ever since the Icesave dispute in 2008, Iceland's economy has been in shambles. In the recent year or so, it has somewhat managed to get back on its feet. Jonsdottir says Iceland's aspirations of joining the EU are low considering the shape the Eurozone is in. Birgitta argues that although some things have improved in Iceland, many from the "Icelandic financial mafia" are still in high corporate and political positions in Iceland. We also discuss what is true when it comes to how the citizens of Iceland participated in writing their new constitution, online.
http://www.redicecreations.com/radio/201...120722.php

**LoP Guest** lop guest User ID: 98922 07-24-2012 03:03 AM

Screw this idea, you sell those damn toys and other crap you bought with credit because you were too ghetto to actually deserve such things you couldn't afford. I lived my whole life so far never using credit. Maybe I should be a ghetto moron and go big time shopping on credit before this debt forgiveness? lol

Ghetto monkeys, pay what you owe and promised, you weasels. Being stupid shouldn't be rewarded or forgiven. Dopes. That money you owe is someone else's savings, retirement, etc.

**LoP Guest** lop guest User ID: 98922 07-24-2012 03:12 AM

LoP Guest Wrote:

they should either wipe all student loans or at least wipe off the interest on them. people borrow $20,000 and then can't get a job that is more than minimum wage and 10 years later that $20,000 becomes $100,000. it's nuts.

That's lame. You can't make a living unless unless "someone else" creates and provides a job for you? Is that what everyone is waiting for, "someone else" to create a "job" for them? lol

You should get your money back for that inadequate education. Lmao

**vikingwoman**

I hear that California is looking into using imminent domain as means to taking ownership of mortgages from the investors (which is the secondary market) and then restructure the loans so that their citizens can AFFORD to pay those mortgages back....at least it's better than nothing.

**GREY LENSMAN**

VERIFY FACTS!!!!!!!!!

GL

**LoP Guest** lop guest User ID: 109755 07-24-2012 04:55 AM

Well, when you've got a population of 36, that's an easy thing to do

**LoP Guest** lop guest User ID: 110413 07-24-2012 04:56 AM

Waiting for Israel to whine that Iceland has WMD's.